Navia Implements AI Technology for Automated Freight Invoice Processing

Integration of AI in Logistics Finance

Raft today announced that Navia, an integrated global freight and logistics company, has successfully rolled out its AI-automated logistics finance capability to process high volumes of accounts payable (AP) invoices. This implementation marks a significant milestone in Navia's journey toward leveraging advanced technology to enhance operational efficiency.

Significant Improvement in Invoice Processing

Every month, Navia finance teams receive thousands of invoices from partners essential to maintaining the seamless movement of customer freight. With Raft's AI technology, the majority of these invoices are now processed automatically. This encompasses document processing, data extraction, and validation against existing data, enabling Navia teams to dedicate more time to providing superior services and value to their customers.

Enhanced Efficiency and Process Optimization

Navia, a vertically integrated supply chain partner, offers solutions in purchase order and vendor management, freight forwarding, customs brokerage, and third-party logistics for B2B and e-commerce applications. The company's experienced staff leverage both proprietary and partner technology to manage hundreds of thousands of containers annually across nine global offices, dispatching over 100,000 items for leading retail and industrial machinery companies.

“AI now takes care of more than 3,000 minutes a week of document processing, which previously were tasks that our staff did not enjoy,” said Rob Ardesi, COO at Navia. “The automation provided by Raft also required us to have our processes optimized, which helped identify areas for improvement that otherwise would have gone unnoticed.”

Zero-Touch Invoice Processing

AI has enabled Navia to overcome the challenges of manual financial operations through zero-touch invoice processing, automated approval workflows, and centralized dashboards. Currently, 35% of invoices received by Navia require no human intervention, while another 40% require just one touch. This automation significantly reduces the workload on Navia's finance teams.

Partnership with Raft

Raft, the world's largest AI-powered logistics platform, is utilized by over 50 logistics providers who manage 80% of the Global 1000 supply chains. Annually, more than 10,000 users oversee over 5 million shipments on the platform, covering every commodity, transit mode, and trade lane.

“From day one, the Navia team saw the immense potential that AI can bring to the logistics industry,” said James Coombs, CEO of Raft. “As AI continues to mature, we will see a massive shift in how technology is used to move freight. We are thrilled to be on this journey with the Navia team.”

Improved Accuracy and Customer Service

Navia's accounts payable team previously faced significant challenges due to human error in cost allocation. The Raft platform has automated the entire process, improving efficiency and accuracy. Greg Amanatidis, Director of Communications and Enablement at Navia, added, “Ultimately, Raft allows us to provide better services to our customers. Operations teams now have more capacity and insights to keep freight moving and minimize disruptions.”